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Stagecoach stumbles as markets cool

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Train and bus operator Stagecoach shares tumbled after it reported a plunge in annual profits.The FTSE 250-listed firm saw its share price close down 6.2% after pre-tax profit fell from £104.4m to £17.9m.Overall, the FTSE 250 was 0.26% lower at 19476.35, while the 100-share index was down 0.63% at 7387.80.On the currency markets, the pound was up 0.91% against the dollar at $1.2931 and 0.65% higher against the euro at 1.1377 euros.Dixons Carphone started the day strongly after reporting record annual profits, but gave up all its gains and was down 0.74% at the close.The firm, formed through a merger of Dixons and Carphone Warehouse in 2014, said income rose by 10% to £501m.
Source: BBC